• Products
  • product_overview_menu_icon.svg

    Compare Our Products

    Explore and compare our life insurance policies

  • VUL_menu_icon.svg

    Variable Universal Life

    Highest level of tax advantaged growth with low fees

  • IUL_menu_icon.svg

    Index Universal Life

    Tax advantaged, moderate growth with downside protection

  • Term_menu_icon.svg

    Term Life

    Fast and affordable term policies

  • Combination_menu_icon.svg

    Combination Life

    Custom insurance plans to meet protection needs and access tax-advantaged growth

  • Learn
  • FAQs_menu_icon.svg


    Expert answers to your top questions

  • Education_menu_icon.svg


    Knowledge articles and resources from our blog

  • Sign In

What are the benefits and drawbacks of permanent life insurance?

Permanent life insurance can be a great product to add to your financial plan when used in the right way. Some of the most popular benefits of permanent life insurance include: Lifelong protection Accelerated benefit riders that allow access to your coverage for long term illnesses Tax-deferred growth of cash value Tax-free supplemental retirement income Some protection against creditors for your assets The downsides of permanent life insurance are: More expensive than term life insurance Cash in your policy is a long term cash accumulation strategy and ideally should not be accessed for 10-20 years

Related Questions

Ready to get your estimate?

A personalized plan for you.